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? >> well, ashleigh, you described the problem, really, it's not just the immediate fiscal cliff, it's this big thing in my book, savage truth on money. i've had that book about how we really are coming to an impasse. and the only way out is economic growth. that's only way the individual family -- you know, if you have a budget problem, if you could only get a better-paying job. if someone else in your family could work, you'd solve your problems right away. the same thing for the united states economy. we need to grow. we won't grow until we have confidence. confidence for business to expand, for banks to lend, for consumers to go out and buy that new house, and we won't have that until we get congress to act. that's the critical nature of this. sure, there's a debt ceili coming up and sure there are tax increases and spending cut ifs we go over the cliff. but the bigger issue is, we're stopping ourselves from finding the solution, which is growing the economy. >> right, well, if the deficits continue to become a problem and slowing the deficits is a great solution. it's the speed
to hold on to funding. but there is this. if no deal is struck and the fiscal cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in the room and that will absolutely leave an awful lot of voters, democratic and republican, unhappy. >> i want to take a closer look at what each side wants in the fiscal cliff and dpoeshiations, where they stand on taxes and savings. gloria borger joining us live. that was pretty cool what tom did. >> love that virtual studio. >> unbelievable. >> great. >> tell us a little bit about the sticking point here. it's about the taxes on the wealthiest 2% of americans and the president sticking to that. republicans, it looks like some of them at least willing to move or budge on that. where do we stand? >> a little bit. we're kind of in the part of this where each side's waiting for the other side to go first, suzanne. and of course, the big sticking point, as you point out, is revenues. they have to figure out what to do about revenues before they figure out what to do about anything el
in sight for the fiscal cliff hanger. >> when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another wee>> why speaker says the president's my way or the highway approach is getting us nowhere. >> the feds are borrowing nearly a billion dollars a day. so why is the white house saying reducing our debt not really the goal? >> thank you, eric, it's the most watched video on the internet of all time. he is set to perform for the president. gangnam style said about our soldiers a few years ago. that controversy kicking up this morning. "fox & friends" hour one begins right now. >> get out the coffee. wake up, everyone, thank you so much for waking up with tus, it is "fox & friends" on this saturday morning. dave bowling in for dave briggs. >> come in and do the show with us today. more filling in today than the regulars. we are glad to be on with you clayton. >> you are on an interesting morning because congress now just 23 days left, 23 days until we head off that flif. fiscal cliff. if you listened to speaker boehner yesterday he is reading reports th
that in just a few short weeks, the fiscal cliff is coming to town ♪ merry cliffmas. and with a dramatic name like fiscal cliff, it's got to be exciting. jim? >> the president's asking for $1.6 trillion in revenue. >> $600 billion in tax hikes. >> entitlement reform. >> dividends and capital gains. >> discretionary spending. [ cheers and applause ] >> i'm up. what happened? is it over? [ bleep ] >>> good morning. it's wednesday, december 12th. look at that shot of new york city. >> wow. >> it's dark at 6:00 on the east coast. welcome to "morning joe." with us on set here in new york city, we have msnbc contributor, mike barnicle. >> in my ear, mika. >> no, he was at the white house. >> i don't understand. where's t.j.? >> he's off today. >> why's that? >> he was busy. he went to the white house. >> that's great. you know, alex went to the white house, too. >> and drove back himself. >> let me get this straight. so alex goes to the white house last night. >> mm-hmm. >> because, you know, right-wing bloggers, we actually -- that's how we get our talking points. they go down -- valerie and david
the fiscal cliff deal has come to? why 81-year-old former senator alan simpson is going gangnam style to get everyone's attention on debt. >> it has officially jumped the shark. >>> alan st. pierre is the executive director for the national,or for the reform of marijuana laws. oregon senator jeff merkley, heidi ewing, and rachel grady will be joining us. steve satich, ohio congressman, steve latourette, and ambassador nick burns are our guests this morning. it's thursday, december 6th, and "starting point" begins right now. >>> welcome, everybody. our starting point this morning, some major developments to tell you about in egypt, after angry protests against political moves by the president, mohamed morsi, have turned deadly. tanks, armored personnel vehicles, all stationed outside the presidential analysis cairo. not only are they guarding the palace, they're also keeping apart supporters and opponents of morsi. hundreds of his islamist supporters already taking to the streets in cairo this morning. opponents are gathering not very far away. last night the two sides clashed right outside t
scott is an upand coming star . jimdemint's personal pick. >> steve: jay carny. the fiscal cliff thing. the average person really has no idea what that stands for. if you watch that. >> brian: you much the package. >> steve: no idea. something we learned about in school . i forgot about it. jay carny revealed yesterday. gretchen just said it is not a tax problem it is the way they waste our money. jay carny said deficit reduction is not the goal. are you kidding? here he is. >> deficit reduction is not the goal here. the reason to get our fiscal house in order and the reason to pass a deficit reduction package that is balanced and allows for economic growth is to put our economy on a sustainable fiscal path which again, in itself produces positive economic benefits and revenues are part of it this. the president put forth and entitlement reforms and savings gleaned from our health care entitlement programs need to be a part of it. the president has been specific about that. >> brian: he's talking about generalitiys about unnamed cuts. jay carny goes on to admit if the president's propo
to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> we've had time. the president has given the republicans flexibility to come up with a credible, specific plan. what they offered in return was an empty letter lacking in specifics. >> meanwhile, vice president biden is having lunch with several middle class americans who would see their income taxes go up if the tax cuts are not extended. all of this comes as the first jobs report since the election exceeded expectations. the u.s. economy added some 146,000 jobs last month. that was enough it to drive the unemployment rate down to 7.7%. joining me to talk about all of it, florida congresswoman debbie wasserman schultz and she chairs the democratic national committee. good friday afternoon to you. >> thank you. >> john boehner said today that democrats' plan is to, quote, slow walk our economy to the edge of the fiscal cliff. how do you respond it to that? >> well, that's just utterly preposterous. the republicans right now in the house of representatives have a bill that would ext
the fiscal cliff when nothing we're doing is coming close to deal with these issues. melissa: we talk about how hard it is to simplify the tax code. our guest before you guys said the same thing. it could be really simple. we could put out three rates for people with absolutely no deductions exceptions. if you're in this group you pay 35% or whatever. make up your number. >> right. melissa: if you're in this group pay 30, and this group pay 25. no exceptions, no deductions that would be one page tax code. whats wro with that, michael. >> because we live in a complex country with complex countr you don't want people, somebody with $50,000 of emergency medicalxpenses exactly the same as somebody who doesn't have those things? you want to tree somebody, the fact of the matter is you want to lance between simplicity and targeting. you want to balance between fairness and revenue. you need to make these - melissa: who dids decides what is fair? get out there and we pick nners and losers we say who's problem is worth taxpayer dollars and who's problem is not the government's problem. and that's h
, he was putting pressure on lawmakers to come to an agreement to avoid the fiscal cliff. it was yet another white house effort to rally support around its approach to the fiscal cliff. joe biden sitting down with seven middle class americans worried about their taxes going up. >> these are hard working, serious americans who are playing by the rules, doing it all right, and struggling already in this economy. >> reporter: jobs numbers, proof the administration says that the president's economic policies are paying off. >> you see it in the retail industry, you see it in transportation. you see it in health care. and you see it in other sectors. you do see a continued movement that continues to show some positive growth. >> reporter: while cautioning the nation's economy is far from a full recovery, administration officials emphasize positive growth, suggesting it puts them in a stronger negotiating position with republicans. one senior administration official told cnn, quote, we shouldn't muck it up by raising taxes on the middle class or playing chicken with the debt ceiling. but o
't come at an opportune time of the fiscal cliff, both the talks and the fact we're short on money. will it hurt his party or not? roland martin joins me. good to see both of you. ryan, you spoke very early on about how well you thought chris christie handled this sform politically and ever other way, but now he asks for fungd as republicans try to cut spending. is he hurting his own party? >> whether you're a republican or democratic governor you want to secure money from federal taxpayers. that's a classic move. it sure is. is it undermining republicans in congress? it probably is, but frankly chris christie is looking out for his own political future and it's his only option. new jersey is in a very tight fiscal situation because they have a balanced budget requirement. they can't run deficits the way the federal government can, and this has a huge impact on the state economy. frankly, i think you see more situations in which republican governors are going to be pitted against the republicans in congress because those governors, for example, they want that medicaid money to keep
will push back on president obama's demand for tax hikes on the rich when it comes to the fiscal cliff. but treasury secretary timothy geithner says the white house will not give in. >> no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember it's only 2%. >> geithner adds the obama administration is, quote, absolutely prepared to go off the cliff, if necessary. joining me now is van jones, cnn contributor and former obama administration official. good morning. >> god morning to you. >> so, van, i guess my first question that's eatsy for geithner to say, we're perfectly willing to go off the fiscal cliff. that means a tax hike on middle class americans and maybe some of them are thinking this morning i'm not really so happy geithner said that. >> it might have been inartful for him to say it the way he said it. i think he is making a very important point, which is that the american people did vote. they voted for the one thing the president said very clearly, which is that tax rates would go up on the wealthiest. it's an
report because there is in progress to report. when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another week. >>reporter: he calls officials saying they are ready to go over the trip. >>shepard: democrats insist that revenue, revenue, revenue is the key. >>guest: president obama campaigned on it and obviously won and democrats insist upper income americans should pay higher taxes but there could be room to negotiate but their point is they don't want to talk about other aspects of a deal until the g.o.p. gives in on their demand for more tax money. >> what is lacking are the revenues. we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there i
of the u.s. are solid, despite the fiscal cliff concerns coming out of washington. she says stocks could get hit in the early part of the area if we go over the fiscal cliff, but the fundamentals of the economy are still good. >>> all right. apple stock dropped more than 6% yesterday. shares were down about half a percent in pre-market trading this morning. no concrete news pushing them down, but today there's another hearing in the patent case with samsung in california. and a tech research report generatored a lot of buzz that apple's tablet competitors could eat into its market share. >> interesting. >> thanks, christine. >>> well, the good news is, let's do the fiscal cliff and the good news. and it's not very much. but at least the two sides are talking, by phone. not face to face. house speaker john boehner and the president are hoping to break the fiscal cliff ice. now we're just mixing metaphors, left and right. speaking on the phone, 26 days left, of course, until we tumble over the cliff or slide down the slope or fall off the precipice or however you want to put it. we could,
. >> the president has known about the so-called fiscal cliff for a year but has yet to come up with a plan that actually reduces our deficit. i'm willing to work with anyone to put a plan on the table, but we're not willing to negotiate with someone who hasn't put a plan on the table. the president has not put a serious plan on the table. >> as far as a compromise on the marginal tax rate 35% going up let's say 36% or 37%, is that acceptable? >> no. no. because marginal tax rate increases if there is any increase in revenue, just gives them more to play with on capitol hill and more to spend. when we talk about fairness, when the top 2%, the $250,000 and above are already paying 45% of total income tax, that's a big question of fairness there too. >> who should nicki haley name to replace you? >> i talk today her today. i share the same philosophy, the conservative philosophy. i told her i trust her decision and i'm not going to push her one way or another. >> a lot of speculation, congressman scott? >> he's a wonderful person. our whole delegation is really strong. she's got a tough choic
report because there's no progress to report. when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> this is a moment of truth. the clock is ticking. christmas is coming. the goose is getting fat. but in many homes across america, it ee's a very, very l time. >> the goose is getting fat. haven't heard that before. that was speaker john boehner and house minority leader nancy pelosi. they're reacting to yesterday's jobs numbers and the looming fiscal cliff crisis with neither side eager to budge or make concessions. the big question, can they come to an agreement before time runs out or will they take huge risks by cliff diving on december 31st. congressman allison schwartz is a ranking member on the house budget committee which will of course play a crucial role in these fiscal cliff negotiations. she has come in for us on a saturday afternoon. we do appreciate your time. >> good to be here. >> thanks for being here. there's a possibility of some major changes to entitlement spending by the end of these fiscal
. >>> "outfront" next. just 26 days until the fiscal cliff, and a new idea is born. it comes from an unexpected source, howard dean. does the former vermont governor's plan add up? plus, a former u.s. navy sailor charged with attempted espy naj tonight. the alleged benefactor was russia. the war on drugs? have we lost it? let's go "outfront." good evening. a bright idea brought to us by the liberal former governor of vermont, howard dean. the man who brought us the scream heard round the world when he ran for president. yeah! >> dean says let's face it, america. taxes need to go up for everyone. now, this might not be what you expect from someone like howard dean. it's certainly not the president's position or the position of most americans. another new poll out today shows most people like the president's ideas of only raising taxes on other people, specifically the top 2%. individuals making over $200,000 a year or families making over $250,000 a year. the problem is according to the congressional research service, the math doesn't add up. that tax hike would give $678 billion in additional r >>> "outfront" next, just 25 days until the fiscal cliff and a new idea is born. it comes from an unexpected source. howard dean, does the former vermont's governor's plan add up? plus, a sailor charged with espionage and the war on drugs. we lost it. sir richard branson is "outfront." let's go "outfront." good evening, everyone. i'm erin burnett. "outfront" tonight, a bright idea. brought to us by the liberal former governor of vermont, howard dean. a man who brought us the scream heard around the world when reran for president. dean says let's face it, america, tacks need to go up for everyone. now, this might not be what you expect from someone like howard dean. it's certainly not the president's position or the position of most americans. another new poll out today shows that most people like the president's idea of only raising taxes on other people. specifically, the top 2%. the problem is according to the congressional research service, the math doesn't add up. that tax hike would only give $678 billion in additional revenue over ten years, now, remember, we're $16 trillion in the deb
, ross. i mean, you don't really know what is going to come out of the u.s. fiscal cliff, how damaging potentially that can be to u.s. confidence, u.s. activity. things seem to be holding up fairly well in china. but i think there is still going to be some concerns about the whole performance of the asian economy and whether that can actually pick up next year. and then, of course, in the eurozone itself, we seem to be mending the problems progressively and taking out the tail risks, which i think is good and that is the bottom line that investors should take going further forward, but at the same time, there are some elements that you can have. if you do a forecast, in a way you could come up with something like 1% quotes for next year, but at the same time, you have to be conscious that we've had such a battery of downside impact, downside negative news coming through really for all economists in the western world in the last few years. you have to be very cognizant of those. >> i think so. julian, we're going to leave because we have to get a break in and we've got to g to egypt as
to the edge of the fiscal cliff. it's time for the president, if he's serious to come back to us with a counter offer. >> the president told a virginia family on thursday he won't back down on taxing the rich. >> just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like this one. >> the rebels gain on assad raising fears he might use chemical weapons. that was enough to frighten the russians into talking with hillary clinton about a political transition. >> the united states stands with the syrian people in insisting that any transition process re -- result in a unified democratic syria in which all citizens are represented. the future of this kind cannot possibly include assad. >> a tragic turn of events in london. the nurse that first transferred that prank call to duchess catherine is found dead. david axelrod shaves it all off on "morning joe." >> joe scarborough. >> are your friends at the white house watching? >> laughi
the administration wants to see a deal come together here. >> for what, the fiscal cliff or the fiscal abyss? >> for both. >> for both. >> so that a down payment -- a compromise down payment on approximately $4 trillion. i think when you pull it apart, you have about a trillion dollars in discretionary spending that has mostly been agreed upon and you have taxes and the entitlements, the mandatory. >> the entitlements are the sticking point. whoa. did you see that? you think that's funny? >> set that up for you. >> you think that's funny, mac? you do this? look at this. this is booby trapped, man. it won't stay up. which can really be a problem. you can laugh at that. it's okay. nobody's watching. it's 6:00 a.m. that got you going. >> when you look through, i guess the devil is in the details in terms of what you're looking at in spending, cuts, entitlement cuts and with the tax increases, and you're right, both sides have put a plan on the table. they're pretty far apart, but at least now you know there's some framework for how you get to the middle. what do you think, 1.2 trillion in tax i
rock in new york city. >>> the effort to reach a deal on the fiscal cliff is now a two-man operation. president obama and speaker boehner. thank you. nobody else will be in the room. with 24 days before a year-end deadline, "the new york times" says boehner made the request to clear the negotiation room going forward, leaving it up to himself and the president to reach a deal to avoid automatic tax hikes and deep spending cuts. and while the two men may be negotiating privately, yesterday the president took his mess dwrooj the public, visiting a local virginia family as a part of his social media campaign. while sitting around the kitchen table, he told the family he felt optimistic. >> the message that i think we all want to send to members of congress is this is a solvable problem. the senate has already passed a bill that would make sure the middle class taxes do not go up next year by a single dime. just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done
the pieces coming together on the fiscal cliff some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not clear that the republicans will agree to including a debt limit increase in that kind of package and if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration has been clear they will not sign anything. even to get past december 31st. so do you think they can hold firm on that if republicans offer them a package that doesn't include the debt ceiling? >> this is where i think the tension is now arising, which is even if you have some agreement over the tax rates which will jam the republicans a bit, can you jam them on the debt limit also, the concern will be an administration overstepping or overream reaching and trying to jam in the kinds being discussed now. i'm all in favor of getting rid of the debt limit. it makes no sense from a technical perspective. but it's probably a br
the season. but time clearly seems to be running short. fiscal cliff, no hockey. what is wrong? come on, america. >> america. like $1 billion apart. >> wow. >> sad. much different labor issue cropped up outside a wal-mart in kansas city. mom to be, get it, labor. started feeling woozie while in the checkout line. she stepped outside for fresh air. that is when her water broke. >> oh, and game on after that. >> fortunately, off duty police officer, matt fell temperatuphe personal superhero with the help of the fire fighter and salvation army bell ringer they delivered her baby girl just eight minutes later. both mother and baby are doing just fine. >> eight minute delivery. >> eight minutes. jealous of that. hope she got the receipt for the baby highlighted as she left the door that. would be good. >> i go out. >> thank you. funnyman, bill murray in a very presidential movie role. >> living longer than you can possibly imagine, maybe even want, what the seniors of tomorrow can expect from the active elderly off to day. it's coming of on "world news now." ♪ forever young forever young
in the situation room. they're working very hard to avoid the fiscal cliff. thanks so much for coming in. for so long, republicans wanted to extend the bush tax cuts forever, now for 98% of the american people, the democrats are saying, we're ready. we've given up, we'll let you have those bush tax cuts for as long as possible. let's just resolve that, we'll move on to some of the tougher issues later. let's make sure that 98% of the american families have these lower tax rates into next year. why not give that? >> the debate over those top two pshsz, is really a strong man debate. what we need is tax reform in america. we need a simpler less complicated tax code. >> i agree with you. we need a tax reform. why not resolve this one issue, make sure taxes don't increase for 98% of the americans, 100% of americans for their first $250,000 a year. let them have that, and then move on to tax reform and some of the other issues. >> i think it's important not to confuse a quick fix with a real fix. we could increase the top 2% their tax rates to 100% and it would cover 91 days worth of spending. it doe
now, especially with budget cuts coming in the battle over the fiscal cliff but the agency has an unlimited line of credit with the treasury department. today, the housing secretary could not rule out tapping it but he said those hire fha loan fees and other changes could head it off. >> based on all of that, do you expect a taxpayer bailout as we sit here today? if so, when? >> based on those stats, i believe we have significantly decreased the chance of having a bailout at the end of 2013 or having to draw on the treasury. i'm not going to assign a possibility at this -- probabilt this point. >> thinks the fha could end up tapping the treasury short-term for several billion dollars next year. shepard. >> shepard: when next year, pete, do we know. >> the devil rays session it will signal intentions on possible treasury funding for the fha when it releases budget for 2014 in february and will actually make a final decision on all of this next september. shepard? >> shepard: peter barnes on capitol hill, thanks. the man investigators unleashing terror inside a crowded colorado m
think. first, forget the fiscal cliff, because the economy is coming back. americans are feeling more optimistic about 2013 and if we play our cards right, we're going to see a new economic renaissance. td ameritrade recently surveyed folks on their outlook for the new year. 43% say they're downright optimistic about the economy and believe we're headed for a rebound. 45% are feeling good about their own finances, but we already know that things are starting to get better. look, we're adding jobs every month, consumer debt continues to shrink. stock markets are up. longer term, though. america will reap the rewards of its domestic energy boom and more oil and gas gets extracted. the drop in the price of natural gas is already helping utilities and factories compete. that's creating more american jobs. and there is more. housing will be the golden lining to the economic cloud that is hanging over this country. mortgage rates are at historic low and should stay that way for the next two years but home prices have seen their bottom and are heading back up. when they do, confidence goes u
until our economy falls off the tax and fiscal cliff. just where do we stand on a deal coming out of washington, d.c.? cnbc correspondent joins us with all the details. >> reporter: as you know the white house's strategy since the election has been to break republican resistance on two issues. one is tax rates and one is an increase in the debt limit. he hasn't succeeded or budged off that attempt so far which is why john boehner came out in a news conference today and slammed the white house for not being willing to compromise. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counter offer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow walk or economy right to the edge of the fiscal cliff. >> a few hours later you had a slight indication of flexibility from the administration. vice president joe biden was out. he reiterated those two nonnegotiable demands on the part of the administration but said the actual amount of that top rat
operation twist is coming to an end. b, because we have the fiscal cliff or fiscal gentle slope or whatever it turns out to be to negotiate and c, because we haven't found our legs in the u.s. and we clearly have some global headwinds coming in 2013. however, the thing about this qe in the u.s., unlike previous ones where they could see big economic problems, let's comfort the market with a really big number, this time we're going to do it month by month. solo the annual figures look very big, they're going to halt qe as long as it looks like there's inflation. >> which means there might not be much market reaction as investors realize that. >>> find out what travelers are still flocking to the shores and how much of that money contributes to eugdp. be back in a few minutes. can i ? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on grou at fedex office. >>> these are the headlin
not faced a grand jury or been indicted. >>> let the countdown continue. 26 days until the fiscal cliff. the focus has been on taxes but that's only half of what this is all about. the other ways you could be affect, coming up. to test the 2.0-liter turbo engine. [ engine revs ] ♪ [ derek ] 272 horsepower. the lightest in its class. the cadillac ats outmatches the bmw 3 series. i cannot believe i have ended the day not scraping some red paint off on these barriers. ♪ [ male announcer ] the all-new cadillac ats. your soups are so awesomely delicious my husband and i can't stop eating 'em! what's...that... on your head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste this soup. sven's home security gets the most rewards of any small business credit card! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses dese
a deal done more than me. so he's trying to essentially give some encouragement to get the fiscal cliff deal talks ignited and going. and so this comes on -- the speech is coming on a breaking news day jenna of what you and i were talking about and that is basically citigroup laying off 11,000 workers as the president is now speaking to the business roundtable. those layoffs at the nation's third biggest bank have begun. jenna: let's talk a little bit more about that, liz, that news came into our newsroom a couple of hours ago. you've been working this. learning more about also what is to come for the big bank. why is the bank making such massive job layoffs now and what is really to come in the next year or so? >> reporter: yeah, what we're talking about here is essentially this is citigroup, this i is the bank that got $476 billion in bailout help. it got the most bailout help of any bank. what happened was citigroup was -- its ceo had stepped down a couple months ago, now they have a new ceo by the name of michael corbett, an is working very aggressively to cut out the excess, the mi
's very foggy about seeing the picture of how exactly this all comes together on the fiscal cliff negotiations. while there are outlines of what a possible compromise could look like, liken stead of raising tax rates to 39.6% which was the clinton-era rate, maybe go to 37% and close some loopholes and deductions. there are still not indications that house republicans are willing to do that. and on the spending side, which really if you look at the media across the board, there hasn't been a lot of focus on it at all. the spending side. and what spending cuts are on the table. we haven't heard anything specific about what is in addition to what's been out there from the very beginning. jon: right because the republicans claim the country doesn't have an income or a revenue problem it has a spending problem, and that's where republicans say the bulk of the savings, or the rescue plan for this -- this budget is going to come. >> reporter: sure, i mean you have some proposals that are out there, for example, means testing, medicare, social security. you have adjustments to consumer pr
right up here on cnn. >>> congress faces a so-called fiscal cliff and only 24 days. and it is what house speaker john boehner did not say that is drawing attention tonight. when questioned by reporters yesterday, boehner would not comment on whether there is room for compromise on the president's demand for higher tax rates, on high income americans. boehner and the president spoke by phone this week, but in public comments, appear to have no -- made no progress. >>> same sex couples are finally getting their day in court. this time, the u.s. supreme court. justices have decided to hear two constitutional challenges to federal and state laws. one case involves the federal defense of marriage act, which denies federal benefits to same sex couples legally married in their own state. the other is a challenge to california's prop 8, which took away the right of same sex marriage that had been previously approved by state courts. >>> florida governor charlie crist completed his political transformation. crist was elected governor as a republican in 2006, then later ran for the senate as an in
numbers. rebuilding should help. >> heather: and facing this fiscal cliff, based on these job numbers, where do we need to be in order to serve that? >> we are not going into this fiscal cliff from a position of strength. there is no doubt, if we cliff dive on this we're going to have a high unemployment a lot of people will be laid off because of the spending cuts and tax increases. >> heather: and we are facing tax increases. >> absolutely. >> heather: thank you. >> gregg: new chaos unfolding in the middle east as egypt's military threatens the protestors there. syria preparing to unleash chemical weapons and people are scared seen here running for their lives to prevent two catastrophes from getting a whole lot worse. staechb yates will be with us next. [ male announcer ] red lobster's crabfest ends soon. hurry in and try five succulent entrees, like ourender snow crab paired with savory garlic shrimp. just $12.99. come into red lobster and sea food differently. and introducing 7 lunch choices for just $7.99. but they haven't experienced extra strength bayer advanced aspirin. in fa
report. >>> dire warning about what would happen if the u.s. economy goes over the fiscal cliff. survey says 1 1/2 million americans could lose jobs if lawmakers fail to come to agreement automatic spending cuts and tax increases are triggered inside. nationwide insurance warning computer network hacked names, birth dates, social security and driver licenses numbers likely stolen nationwide is apologizing and offering identity theft profession for years. hostess may have a buyer for its wonder bread bran. even with the sale, it could take -- take months before the bread brand wraps up again. >>> estimated 300 million dollar magic kingdom make overincludes pagers so and serving beer and wine themó?5to past five years. >>> abc7 is owned by disney. >>> big change that could be coming to storm warnings because of superstorm san >> dispute forcing bay area -- >>> welcome back. check out last three hours on live doppler, quiet radar returns over the ocean is the beam shooting into the clouds nothing is talling but moist with mist hanging in the -- nothing is falling but moist with the mist
are holding the global economy hostage over the fiscal cliff.
progress in the fiscal cliff standoff. officials say president obama and the house speaker john boehner talked by phone tonight after each put new offers on the table. we are live in d.c. with the late breaking details on that. plus, we're getting more new reports from portland, oregon where there has been a series of shootings at the clackman's center mall. we can now report that multiple witnesses are saying to multiple television stations that a gunman had a rifle that more than 60 shots were fired and this is new. he was trussed in camo and wearing a mask and to the best of our knowledge, he is still in there somewhere. continuing breaking news coverage after this. ory keeps c. ory keeps c. so i'm not listening... to anyone but myself. i know better nutrition when i see it: great grains. great grains cereal starts whole and stays whole. see the seam? more processed flakes look nothing like naturalrains. you can't argue with nutrition you can see. great grains. search great grains and see for yourself. for multi grain flakes tt are anxcellent source of fiber try great grains banana n
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